Nationwide Document Retrieval Service Achieves New Milestone in Recorded Property Document Image Database
Santa Ana, Calif., Feb. 5, 2008 – Data Tree, LLC, the nation’s largest provider of recorded land documents and a member of The First American Corporation (NYSE: FAF) family of companies, has expanded its nationwide database of recorded property documents to more than 4 billion documents. With geographic coverage in more than 650 counties, the database represents approximately 70 percent of the U.S. population.
Mortgage lenders, title companies, attorneys, land surveyors, abstractors and all real estate service professionals can search for deeds, mortgages, assignments, foreclosures, maps and other records in more than 650 counties across the nation, with some information dating back to the 1950s. Documents and data are available via three primary products:
• DataTree for the Desktop™ – provides a robust software application for high-volume document retrieval and electronic file management
• DataTree XOS™ – uses an XML platform to integrate with proprietary systems
• DocEdge.com® – provides multiple search capabilities using online access from any web-enabled computer
“We understand our clients’ need to have property information and images readily available,” said Robert Karraa, chief operating officer for Data Tree. “With the breadth of coverage we now provide, our document images and data come from geographic regions that encompass a majority of the U.S. population. Our growth will continue as we add at least 200 more counties in 2008. We differentiate ourselves from any competitor as the largest document and land record provider with a commitment to excellence in quality and customer service.”
Data Tree currently uses automated database technology to add over 1,200 document images every minute. With the database now exceeding 4 billion document images, Data Tree remains the nation’s largest single-source solution for recorded property document retrieval.
About Data Tree
Data Tree LLC, a subsidiary of The First American Corporation (NYSE: FAF), provides an online database containing more than 4 billion current and historical document images. Available in more than 650 leading markets, Data Tree delivers hundreds of thousands of quality images instantly online, everyday to companies in need of recorded property documents and property information. Data Tree’s proprietary technology enables workflow automation by allowing users to process, share, annotate, print and store images in a networked or Internet-connected environment. Data Tree greatly reduces research times and makes title automation and paperless processing a reality. More information about the company can be found at www.datatree.com.
About The First American Corporation
The First American Corporation (NYSE: FAF) is a FORTUNE 500® company that traces its history to 1889. With revenues of $8.5 billion in 2006, it is America’s largest provider of business information. First American combines advanced analytics with its vast data resources to supply businesses and consumers with valuable information products to support the major economic events of people’s lives, such as getting a job, renting an apartment, buying a car or house, securing a mortgage and opening or buying a business. The First American Family of Companies, many of which command leading market share positions in their respective industries, operate within five primary business segments, including: Title Insurance and Services, Specialty Insurance, Mortgage Information, Property Information and First Advantage. More information about the company and an archive of its press releases can be found at www.firstam.com.
Certain statements made in this press release, including those relating to continued growth and the number of counties to be added in 2008, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Risks and uncertainties exist that may cause results to differ materially from those set forth in these forward-looking statements. Factors that could cause the anticipated results to differ from those described in the forward-looking statements include: limitations on access to public records and other data; changes in applicable government regulations; systems interruptions and intrusions; and other factors described in Part I, Item 1A of The First American Corporation’s annual report on Form 10-K for the year ended Dec. 31, 2006, as updated in Part II, Item 1A of the company’s quarterly report on Form 10-Q for the period ended June 30, 2007, and in Part II, Item 1A of the company’s quarterly report on Form 10-Q for the period ended September 30, 2007, in each case as filed with the Securities and Exchange Commission. The forward-looking statements speak only as of the date they are made. The company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.